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Air India pays compensation to 2/3rds of June 12 crash victims

Air India pays compensation to 2/3rds of June 12 crash victims

Time of India15 hours ago
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Air India on Friday said it has paid the compensation to families of nearly two-thirds of the victims who died in the June 12 plane crash in Ahmedabad.An Air India Dreamliner from Ahmedabad to London Gatwick crashed moments after takeoff on June 12, killing 260 people onboard and on the ground."Our teams have been helping families receive interim compensation . Every affected family is being directly assisted by an Air India representative, with nearly two-thirds having already received payment or are in the final stages," Air India Chief Executive Officer and Managing Director Campbell Wilson told the airline employees in an internal post.Tata Sons is in the process of establishing the apparatus to provide longer-term assistance to the families and survivors, the Tata Group-owned airline said.In an internal post to airline employees, Air India Chief Executive Officer and Managing Director Campbell Wilson also said the carrier will continue to "invest in upgrading aircraft, products, service, systems, capabilities and, most of all, people".The crash, one of the worst air disasters in India in decades, involved a Boeing 787-8 Dreamliner operating as Air India flight AI171.Of the 242 people onboard, 241 were killed, while the total death toll stood at 260, including casualties on the ground.Soon after the crash, Air India parent Tata Sons announced that it will provide Rs 1 crore each to the families of each person who died in the crash.And on June 14, Air India announced that it will provide an interim compensation of Rs 25 lakh, or approximately GBP 21,500, to the families of each of the deceased and survivors of the Ahmedabad plane crash to help address immediate financial needs.Air India's on-ground presence in Ahmedabad to see this process to completion, he said, will continue for as long as required."The Air India Chief also said "the process of reuniting next of kin with their loved ones, and repatriating them to their final destinations, is now complete"."As we transition from the immediate aftermath to mapping the journey ahead, many efforts are underway. Among them, Tata Sons is in the process of establishing the apparatus to provide longer-term assistance to the families and survivors, and will share more when the time is right," Wilson noted.Air India continues to observe its "Safety Pause", the deliberate temporary scale-back of its international and domestic networks, he said, acknowledging that, besides the customer impact, this temporary curtailment of flights put extra pressure on Air India frontliners in call centres and at airports, and has "disrupted crew rosters"."The 'pause' was an important and necessary move to accommodate voluntary additional aircraft checks, navigate the volatile international airspace environment and to stabilise our flight schedule to restore faith and trust," Wilson said.Besides providing extra resilience, the extra aircraft ground time is allowing the airline to accelerate its aircraft reliability enhancement programs, he said.Air India on June 18 had announced a 15 per cent reduction in international flights operated with widebody planes till mid-July as amid operational disruptions due to enhanced safety inspections and geopolitical situation, among others."Irrespective of any cause, the accident of AI171 and the loss of so many lives will forever stand as one of our darkest days. It must also signal the start of a new era," Air India chief said in the internal post, adding, "we will continue to invest in upgrading aircraft, products, service, systems, capabilities and, most of all, people".
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Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors
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Economic Times

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  • Economic Times

Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors

Live Events About Travel Food Services IPO Travel Food Services IPO bid details About the company Travel Food Services financials (You can now subscribe to our (You can now subscribe to our ETMarkets WhatsApp channel Mumbai-based Travel Food Services Limited has garnered Rs 599 crore from anchor investors ahead of its initial public offering (IPO) that opens for public subscription on Monday, July 7, Friday, the company informed the exchanges that it allocated 54,43,635 equity shares at Rs. 1,100 per share on Friday, July 4, 2025, to anchor of the marquee Institutions that participated in the anchor includes ICICI Prudential Mutual Fund , Abu Dhabi Investment Authority, Axis Mutual Fund , Fidelity Investment Trust Emerging Asia Fund, Government Pension Fund Global, Kotak Mutual Fund, Baroda BNP Paribas Mutual Fund, WhiteOak Capital Flexi Fund, Bajaj Allianz Life Insurance Company, HDFC Life Insurance Company Tata AIA Life Insurance , Turnaround Opportunities Fund, IKIGAI Emerging Equity Fund, JM Financial Mutual Fund, Amundi Funds New Silk Road, Samsung India Securities Master Investment Trust Equity, Bharti AXA Life Insurance, Helios Flexi Cap Fund, SBI General Life Insurance Company, Necta Bloom VCC –Regal Fund, Integrated Core Strategies (Asia) Pte. Ltd, Societe Generale - of the total allocation of 54,43,635 equity shares to the anchor investors, 23,67,527 equity shares were allocated to 7 domestic mutual funds through a total of 15 schemes, i.e. 43.49% of the total anchor book Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Batlivala & Karani Securities India Private Limited, are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the IPO is entirely an offer for sale up to equity shares aggregating to Rs 2,000 crore by Kapur Family 3-day IPO will close on Wednesday, July 9, 2025 and the company has set the price band for the offer at Rs 1,045 – Rs 1,100 per equity Offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual can bid for a minimum of 13 equity shares and in multiples of 13 equity shares by the UK-based SSP Group plc and the Kapur Family Trust, Travel Food Services operates India's largest network of travel quick service restaurants (QSRs) and airport lounges. Out of its 413 outlets, 384 are located in airports. The company has a presence across 14 Indian airports, and three overseas—two in Malaysia and one in Hong also runs 37 lounges, including 28 private airport lounges in India, covering 10 domestic airports—making it the country's largest lounge the company posted a 27.4% rise in profit to Rs 379.7 crore in FY25, with revenue up 20.9% year-on-year to Rs 1,687.7 crore.: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors
Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors

Time of India

time27 minutes ago

  • Time of India

Travel Food Services IPO: Company raises Rs 599 crores from 33 anchor investors

Mumbai-based Travel Food Services Limited has garnered Rs 599 crore from anchor investors ahead of its initial public offering (IPO) that opens for public subscription on Monday, July 7, 2025. Late Friday, the company informed the exchanges that it allocated 54,43,635 equity shares at Rs. 1,100 per share on Friday, July 4, 2025, to anchor investors. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Play War Thunder now for free War Thunder Play Now Undo Some of the marquee Institutions that participated in the anchor includes ICICI Prudential Mutual Fund , Abu Dhabi Investment Authority, Axis Mutual Fund , Fidelity Investment Trust Emerging Asia Fund, Government Pension Fund Global, Kotak Mutual Fund, Baroda BNP Paribas Mutual Fund, WhiteOak Capital Flexi Fund, Bajaj Allianz Life Insurance Company, HDFC Life Insurance Company . Tata AIA Life Insurance , Turnaround Opportunities Fund, IKIGAI Emerging Equity Fund, JM Financial Mutual Fund, Amundi Funds New Silk Road, Samsung India Securities Master Investment Trust Equity, Bharti AXA Life Insurance, Helios Flexi Cap Fund, SBI General Life Insurance Company, Necta Bloom VCC –Regal Fund, Integrated Core Strategies (Asia) Pte. Ltd, Societe Generale - ODI. Out of the total allocation of 54,43,635 equity shares to the anchor investors, 23,67,527 equity shares were allocated to 7 domestic mutual funds through a total of 15 schemes, i.e. 43.49% of the total anchor book size. Kotak Mahindra Capital Company Limited, HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and Batlivala & Karani Securities India Private Limited, are the book-running lead managers, and MUFG Intime India Private Limited is the registrar of the issue. Live Events About Travel Food Services IPO The IPO is entirely an offer for sale up to equity shares aggregating to Rs 2,000 crore by Kapur Family Trust. The 3-day IPO will close on Wednesday, July 9, 2025 and the company has set the price band for the offer at Rs 1,045 – Rs 1,100 per equity share. The Offer is being made through the book-building process, wherein not more than 50% of the net offer shall be available for allocation on a proportionate basis to qualified institutional buyers, not less than 15% of the offer shall be available for allocation to non-institutional investors, and not less than 35% of the offer shall be available for allocation to retail individual bidders. Travel Food Services IPO bid details Investors can bid for a minimum of 13 equity shares and in multiples of 13 equity shares thereafter. About the company Promoted by the UK-based SSP Group plc and the Kapur Family Trust, Travel Food Services operates India's largest network of travel quick service restaurants (QSRs) and airport lounges. Out of its 413 outlets, 384 are located in airports. The company has a presence across 14 Indian airports, and three overseas—two in Malaysia and one in Hong Kong. It also runs 37 lounges, including 28 private airport lounges in India, covering 10 domestic airports—making it the country's largest lounge network. Travel Food Services financials Financially, the company posted a 27.4% rise in profit to Rs 379.7 crore in FY25, with revenue up 20.9% year-on-year to Rs 1,687.7 crore. ( Disclaimer : Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)

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